Alternate proposals for resolution of contentious issues on Sarbanes-Oxley (SOX) Act content in state regulation displaced regulators’ attention Thursday from further review of NAMIC’s cost-benefit study on the same topic.
Meeting in Philadelphia, the NAIC’s “Title IV Subgroup” deliberating on building expensive new internal accounting controls into state solvency regulation, chose to allocate its time to an industry interested parties’ compromise proposal for resolution of SOX internal control issues and, in minor measure, to another proposal from the American Council of Life Insurers (ACLI).
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